J.Crew Will Close 50 Stores This Year

If J.Crew is a staple during your mall visits, we have some bad news for you. The popular brand is reportedly going to be closing 50 of its stores by the end of the fiscal year, according to Fashionista.

In a conference call on Tuesday (November 21), executives revealed that they would be closing more stores than expected (previously, the company announced that 20 of its stores would be shutting their doors for the final time). Mike Nicholson, J.Crew's president, COO, and CFO, explained that the brand will be putting an emphasis on its online presence. "In order to drive top-line growth, we must evolve our business model from a traditional brick-and-mortar specialty retailer to a digital-first omnichannel business," Nicholson explained during the call. "We are committed to driving outsize growth with strong e-commerce capabilities complemented with a more appropriately sized real estate footprint."

Although the announcement is sad to those whose in-person shopping experiences will be impacted, it's definitely not surprising. The rise of e-commerce has put a strain on traditional retail purchases in general, to the point where several major retail companies have declared bankruptcy this year. But in J.Crew's case, part of the issue might be overall sales; Fashionista notes that the company's total revenue declined 5% in the third quarter of the fiscal year. Of course, the silver lining might be reduced prices from the brand — like the 40% off sale that's happening in stores and online right now. It remains to be seen how these changes will affect the company in the long run, or if more stores will close in the future.